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What’s the difference between Collection and Contract?

Collections and contracts are synonymous to each other. The contract refers to your smart contract that’s been deployed on the blockchain and allows your collection to be created. A smart contract is not a legal document but rather a software program with predetermined conditions. A smart contract makes it easy for anyone buying your NFT to trace it back to the original creator of that NFT.

Once you deploy the smart contract, your collection is activated. This allows you to then create and sell your NFT.

What is a smart contract to a creator and which type is right for me?

When you’re setting up a Creator account, you’ll have the option to choose between two types of Smart Contracts – Shared and Custom. Both contract types have benefits. Read below for more information on which is right for you.

Shared contract

Shared contracts give you the freedom to start selling NFTs with no money down. This is a major bonus when you’re first starting out! If you choose a shared contract, please note that you will not receive royalties from any secondary sales. Also, secondary sales will populate under the contract name “Bitski” instead of your name. You can still choose the name of your Storefront when onboarding to Bitski’s Creator Portal.

If you start out with a shared contract and change your mind down the road, you can opt to deploy your own contract at any time.

Deploy your own contract

Deploying your own contract allows you to receive royalties from secondary sales of your NFTs because you are the sole owner of your contract. You can deploy your own contract for a one-time fee of $25. This fee is to cover the gas price of deploying the contract onto the blockchain.
*Please note that you will receive 10% royalty from any secondary sales. The 10% cannot be changed even if you import from OpenSea.

Users can also add a new collection directly through the creator portal. Visit the collections tab on the portal, and click + New. Add in your new custom contract name, pay the one time $25 fee and you’re set!

What’s a contract?

A smart contract is a piece of code, usually written in Solidity. It gets deployed onto the blockchain and can then be interacted with by users or other smart contracts. Once deployed on-chain, a contract’s code cannot be modified.

A smart contract is needed to create and verify ownership of NFTs. Each contract has a function that can mint an NFT onto the blockchain as well as show the current owner of a given NFT.

What type of contract does Bitski use?

Bitski smart contracts are based on the ERC-1155 specification.

How do I find my contract address?

You can find your smart contract address through the creator portal. Go into “Collections” on the left tab and select the deployed collection you would like get the address to. After clicking on that collection, there will be a contract address in the top right shown that you can click to copy.

How do I become an admin on my contract in OpenSea?

Once an NFT is minted from your contract, it can be shown in OpenSea as a collection. You will need to be an admin on your contract in order to change:

  • the collection description
  • the collection profile image and background
  • the payout address for the royalties

To become an admin on your contract OpenSea needs to link your Bitski wallet address to the contract. To do so, make sure you have the following items with you:

  • Your ETH wallet address
  • Your contract address (See “how do I find my contract address”)

Once you have these details at hand, reach out through this website here to get in contact with the OpenSea team with your admin request.

Until an NFT has been purchased through Bitski on your collection, it won’t show up on OpenSea.